Britain's Times newspaper quoted Valencia vice president Fernando Gomez on Thursday as saying that the Primera Liga club had discussed the sale of the Spanish international to Manchester City. Both clubs declined to comment on the report.
"He'll not leave Spain, he's very clear about that," newspaper El Mundo Deportivo quoted Villa's agent Jose Luis Tamargo as saying on its website.
Tamargo, who could not immediately be reached for comment, told the paper he did not know whether Valencia and City had been in contact and was unaware of any possible deal.
Valencia said last week they might have to sell some of their best players to ease their financial problems. They have been unable to pay their players, including prize assets Villa and David Silva, part of their wages and construction has been halted on a new stadium.
Villa signed a six-year contract last August, but it now looks inevitable he will leave Valencia in the close season.
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